BT to sell off its fleet division

Sat, 10 Nov 2018 | DIVISION SALE



BT Group is preparing to sell its fleet management arm encompassing 333,000 BT and Openreach-branded vehicles. The deal is anticipated to provide hundreds of millions of pounds for the telecom provider.

Although in its early stages, the sale is estimated to yield a price of £200 million or more.

Lazard, the investment bank, has been appointed to handle the sale through an auction. Credit Suisse is assisting BT with the sale of its Global Services division, which provides IT and other services to corporate customers.

Early this year, BT's current chief executive Gavin Patterson announced plans to move its long-serving London headquarters in a symbolic move to accelerate BT's modernisation. In the new year, however, Philip Jansen will replace Patterson as chief executive and the sale of its fleet arm is one of the many assets BT intends to sell prior to the change in management.

The fleet arm also serves other corporate clients which includes maintenance of a total of 120,000 vehicles and 840 in-house commercial vehicle staff. The division also owns a network of 65 garages across the UK and provides a range other services including accident management, vehicle funding and consultancy.

Sources have reported that the fleet arm sale is likely to include a leaseback arrangement so that company's engineers will be able to continue to use the vehicles.

The shares in the fixed-line, mobile telephony, IT services and broadcasting group have recovered in the last year and has now secured BT with a market value of just over £25 billion.

BT's fleet arm works with over 500 contractor facilities and has more than 50 mobile technicians.

For more news about division sales, click here. For all our business listings, click here.


Share this article



Latest Businesses for Sale

IT & Technology Recruitment Solutions
South East, UK

Multiple opportunities for growth and international expansion. Operates from leasehold premises. Our clients are offering the business for sale to facilitate further growth under the impetus of new ownership. Offers invited.

Asking Price: Offers Invited
Turnover: £2,000,000

LEASEHOLD


B2B CRM Software as a Service (SaaS)
UK Wide

Profitable. Cash generative. Debt free. 318+ customers. Diversified customer base. Recurring revenue streams. IP. Made in UK. Low overheads. Well above industry high-profit margins. Huge expansion potential. Offers Invited.

Asking Price: Offers Invited
Turnover: £2,500,000

LEASEHOLD


Wired & Wireless Electronic Connectivity Components & Modules Provider
South East, UK

Successful company operating for over 29 years and currently demonstrating year-on-year turnover increase. Highly regarded distributor of wired and wireless electronic connectivity components, professional AV and data acquisition modules, benefiting...

Asking Price: Offers Invited
Turnover: £1,540,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
27
 
May
 

Food-to-go supplier calls in administrators | ADMINISTRATION

Adelie Foods, one of Britain’s biggest suppliers of sa...

 
26
 
May
 

Luxury fashion brand DVF Studio enters administration | ADMINISTRATION

DVF Studio, the UK business of fashion designer Diane von Fu...

 
24
 
May
 

Over 50 hotels and travel brands up for sale as leisure company collapses | ADMINISTRATION

The parent company of coach holiday company National Holiday...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
04
 
Apr
 

Homebase put up for sale by Australian owner | BUSINESS SALE

High street DIY chain Homebase is up for sale, after its Aus...

 
27
 
Aug
 

Gala Coral Group prepares for sale of bingo business | DIVISION SALE

Gala Coral Group has brought in bankers at Lazard to seek ou...

 
18
 
Jan
 

De Vere to sell four hotels to fund expansion | DIVISION SALE

De Vere Group is set to sell four of its hotels and one conf...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources